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LATEST NEWS UPDATES | Govt wheat procurement down by 53% to 182 lakh tonnes in 2022-23

Govt wheat procurement down by 53% to 182 lakh tonnes in 2022-23

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published Published on May 24, 2022   modified Modified on May 25, 2022

-PTI/BusinessToday.in

The wheat procurement target has been revised downward to 195 lakh tonnes for the current year from the earlier 444 lakh tonnes due to a fall in wheat output and increased exports.

The government's wheat procurement fell by 53 per cent to 182 lakh tonnes so far in the current 2022-23 marketing year compared to the year-ago period on aggressive buying by private players for export purposes, according to official sources.

The rabi marketing year runs from April to March but the bulk of procurement ends by June. An all-time high of 433.44 lakh tonnes of wheat was procured in the previous marketing year.

State-owned Food Corporation of India (FCI) and state agencies undertake procurement at the minimum support price to meet the requirement under the public distribution system (PDS) and other welfare schemes.

The wheat procurement target has been revised downward to 195 lakh tonnes for the current year from the earlier 444 lakh tonnes due to a fall in wheat output and increased exports.

According to official sources, wheat procurement by government agencies remained lower in all key growing states of Punjab, Haryana, Madhya Pradesh and Uttar Pradesh.

The government's wheat procurement declined to 96 lakh tonnes so far in the 2022-23 marketing year, when compared with 132 lakh tonnes in the year-ago period.

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PTI/BusinessToday.in, 24 May, 2022, https://www.businesstoday.in/latest/economy/story/govt-wheat-procurement-down-by-53-to-182-lakh-tonnes-in-2022-23-334945-2022-05-24?fbclid=IwAR2_H8OTThNBFRig9x--v2wddLUE-gWMhX9D9Ebuw6AzZrGZqu0JyIc-OK4


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